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Co-ownership charges: 5 tips to reduce them!

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For many co-owners, reducing co-ownership charges is a priority, provided the building maintains a good quality of life. Thanks to personal involvement in the day-to-day life of the condominium and to certain concrete actions, it is possible to significantly reduce the utility bill, both in terms of heating, water and contracts with third-party providers.

1. Save on heating

This item is particularly important because it represents a third of current expenses. Savings can be achieved in several ways:

    • Equip condominiums with collective heating (45% savings) *
    • Change system to adopt gas heating
    • Insulate the facades and the roof (reduced bill thanks to aid and tax credits)

    2. Achieve water savings

    It is recommended that individual water meters be installed in each occupant. In this way, everyone is encouraged to limit the wastage of water and, if they are discovered, to fix leaks. If the meters are old, it is important to change them. Another device called a "datalogger" can record the real water flow and moreover measure the differences with the consumption which is announced on the meter.

    3. Service provider contracts

    For the smooth running of a condominium, many service provider contracts are necessary, especially in the absence of a guardian. It is therefore useful to sit down and examine the current contracts, comparing the tariffs with the market prices. Sometimes, a call for tenders from several providers can lower the overall price by up to 15%. Of course, beyond the price it is a good quality / price ratio that must be favored, with service providers who are responsive and a service that meets the expectations of the co-ownership. Hence the importance of punctually evaluating these contracts and the quality of service providers over time.

    4. Improve the energy performance of the condominium

    An energy audit of the condominium makes it possible to find out the possibilities for improving energy performance. An approved service provider will be able to assess the possibilities for optimizing heating or hot water, by carrying out work, renovating facades or other concrete actions. Thanks to such an audit, you can benefit from a detailed report which will list precisely the recommended jobs and the priority of the latter.

    5. Maintain the condominium well

    To reduce the charges and amounts intended for work, it is strongly recommended to maintain the co-ownership on a regular basis and not to allow certain problems to arise. When water infiltration problems become recurrent, the question must be asked whether or not to redo the complete waterproofing of a roof. Only work that proves to be essential for good long-term budget management should be proposed.

    Do you need financing for your co-ownership work? Discover the Finance Studio special co-ownership work loan .

    * source: capital.fr

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